Saudi Arabia-based Nana raises $133M in Series C investment
The company will use the funds for expansion plans and the provision of diversified services, said Sami Alhelwah, CEO of Nana.
, a Saudi Arabia-based dark store delivery platform, has closed a Series C investment round of Saudi Arabian Riyal (SAR) 500 million ($133 million) led by Kingdom Holding Company (KHC) and Uni Ventures.
The round also saw participation from Red Diamond Company, AlJammaz Holding, Sultan Holding, Dallah Al-Baraka Group, and Al-Jasser Holding, among others.
The company will use the funds for expansion plans and the provision of diversified services, said Sami Alhelwah, CEO of Nana.
This investment is in line with KHC's aim to invest in emerging Saudi startups and strengthen its local investment portfolio, stated Talal Almaiman, CEO of Kingdom Holding Company.
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Founded by Abdulmajeed Alsukhan and Sami Alhelwah in 2016, Nana is dedicated to fulfilling daily, weekly, and monthly household grocery needs. It has innovated the dark store model in the Saudi market, delivering orders to customers within 15 minutes.
Since its launch, the Saudi Arabia-based startup has fulfilled more than 10 million orders and registered downloads, as per a press release shared by Wamda.
The Kingdom Holding Company has invested across sectors. It owns majority shares in segments ranging from hotel management and technology to media and publishing, among others. VC firm Uni Ventures is a subsidiary of ORSCOM Investments Group.
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Edited by Suman Singh